KFTC Hits Asian Paper Makers With $3.1M Cartel Fine

Law360, New York (December 29, 2008, 12:00 AM EST) -- Korea's Fair Trade Commission has leveled a 3.9 billion won ($3.1 million) price-fixing fine against four Southeast Asian paper manufacturers in the first sanctions the agency has imposed on an international cartel in five years.

The competition authority also hit Indonesia's Indah Kiat Pulp & Paper, Singapore's APRIL Fine Paper Trading Pte. Ltd., Thailand's Advance Paper Company Ltd. and China's UPM-Kymmene Changshu Paper Industry Co. Ltd. with a corrective order for the alleged three-year-long cartel, the KFTC said Dec. 22.

The four manufacturers agreed to fix...
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